Export to EU countries: 'business community stunned by Bangladesh move'

The business community here and Southern Punjab are stunned by the Bangladesh move to go against Pakistan for acquiring permission of duty free exports of 75 items to EU countries, describing it a bad step which ahs saddened Pakistan business community in particular and people in general.
Multan Chambers of Commerce and Industry (MCCI) President, Anis Ahmed Sheikh said that Bangladesh should have not raised objection at World Trade Organisation (WTO) on EU trade concession to Pakistan while the neighbour country is already enjoying duty free market access to EU on account of Least Developed Country and has already exported about Euro 10 billion of textile products to EU countries till June 2011. Pakistan are to take up Bangladesh objection on entry for European Union trade concession on the South Asian Association for Regional Co-operation (Saarc) platform.
He said that total exports from Pakistan to EU during the same period stood at Euro 3.3 billion out of which, Euro 900 million comes from the 75 items for which duty free market access is allowed by the EU. The duty free exports of 75 items, out of which 65 are textile items to EU, are to support country's economy affected with devastated flood. Several textile products manufacturing units of Pakistan preferred Bangladesh and set up their textile units there, he added.
MCCI president said, "On this stage it is not fair we are being opposed by a neighbour country, which business community of Pakistan preferred for making huge investment and setting up of industry while ignoring Dubai and other Muslim countries". Bangladesh also buys raw cotton from Pakistan for its textile products and cotton traders of Pakistan always offered cotton to Bangladesh on competitive rates in order to allow it to compete in the international market with less cost, he maintained.